The purchase brings TV channels in 138 countries to AMC,
broadening the reach of its shows, according to a statement
today from the New York-based company. The new channels will
expand the company’s AMC/Sundance Channel Global international
programming business.

The Chellomedia channels reach more than 390 million
households, helping AMC widen the distribution of original
programs such as “Breaking Bad” and “The Walking Dead”
beyond U.S. audiences. Liberty Global, billionaire John Malone’s
London-based cable carrier, is selling Chellomedia as it focuses
on acquiring rivals in Europe and building out network capacity.

The assets sold include the Chello brands, as well as the
unit’s stakes in joint ventures with partners such as CBS
International, according to a Liberty Global statement. The
company will retain its Film1 and Sport1 channels in the
Netherlands.

“For Liberty Global, this transaction is attractive from
both a valuation and liquidity perspective,” Chief Executive
Officer Mike Fries said in the statement. “It also simplifies
our business and allows us to focus on our core markets and more
strategic programming opportunities.”

Virgin Media

Liberty Global -- which has spent about $40 billion buying
European assets in the past six years, according to data
compiled by Bloomberg -- acquired the U.K.’s Virgin Media Inc.
for about $16 billion this year. This month, Dutch cable-TV
operator Ziggo NV turned down a takeover proposal by the
company, saying the offer was inadequate.

Liberty Global also has been seen as a takeover target
itself. Vodafone Group Plc, the British phone giant, is selling
its stake in a U.S. wireless joint venture to Verizon
Communications Inc. for about $130 billion, giving it cash to
potentially make acquisitions. Malone has said that while he
would consider bids for Liberty Global, he’s “happy” with the
company as it is.

AMC’s purchase of Chellomedia is expected to close in the
first quarter 2014, the companies said.

Shares of AMC were little changed today in New York,
closing at $69.90. Liberty Global rose 1.2 percent to $81.12.

AMC has tried to stand out from rivals on the cable dial
with original programming. The effort helped boost revenue by 16
percent in the second quarter, and AMC’s networks were nominated
this year for 39 Emmy awards. That was the most of any basic-cable programming group, the company said in August.